U of T acquires four acres of downtown Toronto land

The University of Toronto has announced that it has acquired four acres of downtown Toronto land to provide the school more space for innovation, academics, teaching, and housing. The land is currently home to six buildings leased to the Centre for Addiction and Mental Health. “Really, this is the first time in a generation that the university’s had an opportunity to acquire such a significant piece of property,” said the university's vice-president of operations, Scott Mabury. Funding for the $123M purchase will reportedly come from capital reserves, cash, and a 25-year mortgage. The rent paid by CAMH will help cover the costs of the mortgage. Metro | U of T